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India cuts tax on palm oil imports; Malaysia to gain most

Reuters  |  MUMBAI 

By Rajendra JadhavMUMBAI (Reuters) - India has cut import taxes on crude and refined palm oil from Southeast Asian (ASEAN) countries after a request from suppliers, a government notification said.The reduction will lead to higher imports of palm oil by the world's biggest edible oil buyer in coming months as it would narrow the difference between the tropical vegetable oil and competitors such as soyoil and sunflower oil.The duty on crude palm oil was lowered to 40 percent from 44 percent, while a tax on the refined variety was cut to 50 percent from 54 percent, according to the notification ...

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First Published: Tue, January 01 2019. 12:48 IST
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